(a) The Secretary may guarantee not to exceed 90 percent of the unpaid principal and interest due on an issue of bonds, debentures, or similar obligations issued by an organization satisfactory to the Secretary. Such an issue shall be deemed a loan for purposes of sections 1482, 1483, 1484, 1485, 1486, 1489, 1490, 1491, 1493, 1494, 1495, 1496, and 1497 of this title.
(b) The method by which an issue of bonds guaranteed under this section may be sold shall be subject to approval by the Secretary.
(Pub. L. 93–262, title II, §220, as added Pub. L. 100–442, §6, Sept. 22, 1988, 102 Stat. 1764.)
Sections: Previous 1493 1494 1495 1496 1497 1497a 1498 1499 1511 1512 1521 1522 1523 1524 1541 Next
Last modified: October 26, 2015